Purchasing Coins with Pedigree

Discussion in 'Coin Chat' started by CoinBlazer, Mar 11, 2019.

  1. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    I'm starting to find that the world of pedigreed coins, along with the science of researching auctions and sales, is starting to become my niche in the hobby.
    I thought of buying pedigreed coins and then doing a comprehensive sales report on that coin.
    What is the best way to buy coins with pedigreed without paying for the ridiculous prices? I'm aware that names such as Col. Green, Eliasburg and Pogue with really have an affect on price. How do I find cheaper examples to start out with?
     
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  3. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Start your own collection of nice coins so they will become your pedigree.

    Chris
     
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  4. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    I'm trying man! Working for a few cents over minimum at fast food doesn't help
     
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  5. Seattlite86

    Seattlite86 Outspoken Member

    Spend your time now learning vs buying. Nothing I bought at your age was even remotely worth what I paid. Experience differs, of course, and you may fare better than I did, but almost every collector who didn’t have extensive access and guidance wasted their money when they started out collecting.
     
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  6. micbraun

    micbraun coindiccted

    Sound advice. I wouldn’t pay extra for a label, sticker or name. It’s all about the coin itself. Think about your girlfriend. Would you marry her because of her first name or because of the dress she wears? I hope not.
     
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  7. Seattlite86

    Seattlite86 Outspoken Member

    Lol, if I applied how I purchase coins to how I chased women, I’d either be broke or single (or both). :p
     
  8. Victor

    Victor Coin Collector

    Although I have none I am always amazed at the coins once owned by Col. Green.
    I have a book about his estate on Round Hill near New Bedford, MA.
     
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  9. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I collected guitars at one point. Still have a few. To me the aura of having a bass played by Wyzard or Gary Thain hanging on the wall was really cool. I discovered pretty quickly that this generation doesn’t know and could care less who Wyzard or Gary Thain is. Thus the value of those instruments became tied only to the intrinsic value of the guitar itself.

    Now I would rather like to have a coin owned by Buddy Ebson. But after being burned a few times on guitars played by elder rock statesmen, I sure won’t pay a premium for one if I run across it.
     
  10. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    I would pay extra for a label, sticker or name if I like the label sticker or name.
     
  11. micbraun

    micbraun coindiccted

    Ack. If it makes you happy, go ahead...
     
  12. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    Ack? Please define.
     
  13. At the last coin show I went to, I purchased a coin pedigreed to the 4th duke of Northumberland. There are auction records and it is published in a book, but the book would almost cost more than I paid for the coin!
     
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  14. CHARLES ROSENBAUM

    CHARLES ROSENBAUM Active Member

    When buying, be careful of shipping and related fees.
     
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  15. micbraun

    micbraun coindiccted

    You don’t like my analogy? :p
     
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  16. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    I'm single so I really can't relate to your analogy!
     
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  17. Oldhoopster

    Oldhoopster It seemed like a good idea at the time.

    Collecting pedigreed coins can be interesting, but agree with some of the other comments, you need to learn and study to determine who are the big players, what are the important sales, etc. You may want to collect the auction catalog or sale list along with the coin, but a lot of the literature can be scarce and costly (as a side note; subscribe to e-syslum sent out by the Numismatic Bibliomania Society. It’s free and filled with an incredible amount of information).

    Another way to collect pedigreed coins is to buy ones that come with the old dealer’s or collectors envelope. Then research that person or dealer. Doing the research may open a whole new world of collecting
     
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  18. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Thank you @Classickidcoins for my

    18,000th Like
     
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  19. GDJMSP

    GDJMSP Numismatist Moderator

    He'll have to speak for himself, but I'd assume that with "Ack" he's showing displeasure with your idea. In other words, saying it's not a good idea to do that.

    That said, I understand what you're saying CoinBlazer. But I understand what he's saying too. I've paid more for various coins for various reasons, including because they were previously owned by a certain individual - even when there was not a recognized pedigree. And by the same token there have been many cases where others have purchased coins, coin books, and even some other items, simply because they used to belong to me.

    So as I said, I understand because I've been on both sides of that coin if you will. But does that make it good or bad ? No, not at all in my opinion. Ya see, just about everybody has their own reasons when it comes to what they will pay for any given item. And only they can decide if that's a good or bad thing because it's their money their spending.

    Are others going to feel differently ? Of course they are because they have different philosophies, different opinions, different everything. That's what makes the world go round - people being different from everybody else. And then there are those who want to be like everybody else.

    I explain things like pedigrees and provenances, or a shipwreck coin, and even the history of a given coin like it's special because of who minted it, or who is depicted upon it, or why it was minted to begin with - all of those things, I call that the "cool factor". And sometimes the cool factor is reason enough to pay more. But the cool factor is one of those chocolate and vanilla things - it depends on who ya ask as to what's cool and what's not.

    And there's a lot of that with coins. For example, you couldn't give me errors or varieties for free - because I don't want 'em, never have. But other people, they'll fall all over themselves trying to get one. I used to love hammered gold, other people could care less. Some folks only collect ancients, some only US, some only world, and some collect everything !!

    My way of thinking is simple - if it rings your bell, go with it ! Buy what ya like - same thing. But don't ever buy anything ya don't like !

    How do you find less expensive examples ? Same way ya find anything - you spend a lot of time looking. But while you're looking, you have to already know what it is you're looking at so you recognize it when you see it. And how do ya do that ? By reading, studying, buying books, - by learning in other words. With coins it always comes down to learning - knowledge. That's just the way it is.

    There's people out there who own coins but they have no idea of the history of those coins. Or it may be special, might even be 1 or 2 of a kind - but they don't know it, have no idea of it. And all because they lack that knowledge.

    So keep going like ya have been, you ask good questions. And good questions lead to knowledge. Buy coins ya like, walk away from the ones ya don't like. Do that and it's pretty hard to go wrong ;)
     
  20. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    Very well said. Thanks for your input.
     
  21. Oldhoopster

    Oldhoopster It seemed like a good idea at the time.

    Bill the Cat
    [​IMG]
     
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